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Kazakhstan Looks To Buy Stake In Gas Field

Kazakhstan is prepared to pay up to $1.1 billion to be part of the international consortium developing the Karachaganak gas field and settle an ownership row.

Kazakhstan is prepared to pay up to $1.1 billion to be part of the international consortium developing the Karachaganak gas field and settle an ownership row, Reuters reports. The country is looking to obtain a 10 percent interest in the field, operated by BG Group and Eni.

Eni and BG Group are the largest shareholders in the consortium, holding 32.5 percent each. Chevron holds 20 percent and Russia’s Lukoil owns 15 percent. Kazakhstan wants to control costs for the phase III development of Karachaganak.

Click here for the story from Reuters.

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